https://www.taxtmi.com/caselaws?id=329433 The High Court upheld the Tribunal's decision, ruling that the Commissioner's order under Section 263 was not justified as the assessment was not erroneous or prejudicial to revenue. The Court agreed with the adjustment of excise duty in the closing stock under Section 145A, citing legal precedents and emphasizing that deductions under Section 43B are allowable upon actual payment. The appeal favored the assessee, with no costs awarded. en-us Thu, 16 Jun 2016 00:00:00 +0530 Thu, 17 Nov 2016 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329433 The High Court upheld the Tribunal's decision, ruling that the Commissioner's order under Section 263 was not justified as the assessment was not erroneous or prejudicial to revenue. The Court agreed with the adjustment of excise duty in the closing stock under Section 145A, citing legal precedents and emphasizing that deductions under Section 43B are allowable upon actual payment. The appeal favored the assessee, with no costs awarded. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329433